Bonaventure Enterprises Inc.

December 17, 2008 13:36 ET

Bonaventure Announces Non-Brokered Private Placement to Raise C$ 680,000 With the MineralFields Group

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2008) - BONAVENTURE ENTERPRISES INC. (TSX VENTURE:BVT)(FRANKFURT:YQG) (the "Company") is pleased to announce that it has agreed with the MineralFields Group ("MineralFields") to complete a private placement to raise proceeds of $680,000.

It has been agreed the offering will be comprised of 22,666,666 flow-through units at a price of C$ 0.03 per unit. The units will be comprised of one (1) common share and one (1) non-flow-through warrant, with each warrant being exercisable for the purchase of an additional share, at a price of C$ 0.10 per share during the first year and C$ 0.15 per share during the second year. The private placement remains subject to receipt of necessary stock exchange approvals. The Company has agreed to pay a cash commission of 5% of the proceeds raised and a warrant equal to 10% of the units sold, exercisable at a price of C$ 0.03 per unit for a two year period.

Proceeds of the offering will be expended on mineral exploration on the Company's Quebec properties.

"We are very pleased with our ongoing relationship with the MineralFields Group," said Jean Lafleur, P. Geo., the Company's President. "This is an important milestone in the growth of the Company and we look forward to continuing to work with MineralFields as we develop our holdings in Quebec."

About MineralsFields

The MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.

About Bonaventure Enterprises

Bonaventure is a mineral exploration company focused on the acquisition and development of large projects demonstrating the ability to host World-Class mineral deposits.

The property portfolio consists of uranium and gold exploration assets. The Company has a 100% interest in the flagship K9 Uranium Property located in the James Bay region in Quebec, as well as other uranium assets located in the North Shore region of Quebec and uranium, polymetallic and diamond assets located in the Athabasca Basin in Saskatchewan.

The Company holds highly prospective gold exploration properties in Nevada with the potential to host World-Class Carlin-type gold deposits. The Company has an option agreement to acquire up to 60% interest in the New Pass Property located in Austin, Nevada and the Squaw Creek Property located on the northern extension of the Carlin Trend in northern Nevada. The Company also holds a 100% interest in the Goldfields, Cottonwood, Jet and Northern Lights properties located in western and southern Nevada.


Jean Lafleur, P. Geo., President and CEO, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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